Artesian Resources Co. (NASDAQ:ARTNA) Shares Sold by XTX Topco Ltd

XTX Topco Ltd lowered its stake in Artesian Resources Co. (NASDAQ:ARTNA) by 46.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,718 shares of the utilities provider’s stock after selling 4,891 shares during the period. XTX Topco Ltd owned about 0.06% of Artesian Resources worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Foundry Partners LLC increased its holdings in Artesian Resources by 12.2% in the third quarter. Foundry Partners LLC now owns 143,470 shares of the utilities provider’s stock valued at $5,334,000 after buying an additional 15,580 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in shares of Artesian Resources in the 2nd quarter valued at about $539,000. Point72 DIFC Ltd acquired a new stake in shares of Artesian Resources during the 2nd quarter worth about $50,000. ELCO Management Co. LLC lifted its stake in Artesian Resources by 98.7% during the second quarter. ELCO Management Co. LLC now owns 11,072 shares of the utilities provider’s stock worth $389,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Artesian Resources in the second quarter valued at approximately $2,856,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Artesian Resources Stock Down 2.9 %

ARTNA stock opened at $31.25 on Friday. The stock has a market cap of $321.81 million, a P/E ratio of 16.03 and a beta of 0.22. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74. Artesian Resources Co. has a twelve month low of $31.24 and a twelve month high of $43.44. The company’s 50 day moving average is $34.38 and its two-hundred day moving average is $35.99.

Artesian Resources (NASDAQ:ARTNA) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. Artesian Resources had a net margin of 18.96% and a return on equity of 8.57%. The firm had revenue of $29.14 million for the quarter, compared to analyst estimates of $29.00 million. Research analysts expect that Artesian Resources Co. will post 1.92 earnings per share for the current fiscal year.

Artesian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 15th were issued a $0.301 dividend. This is an increase from Artesian Resources’s previous quarterly dividend of $0.30. This represents a $1.20 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Friday, November 15th. Artesian Resources’s dividend payout ratio is presently 61.54%.

Artesian Resources Company Profile

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware.